Logotype for Desktop Metal Inc

Desktop Metal (DM) investor relations material

Desktop Metal Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Desktop Metal Inc
Q3 2024 earnings summary31 Oct, 2024

Executive summary

  • Revenue for Q3 2024 was $36.4M, down 15% year-over-year, with a net loss of $35.4M for the quarter and $191.0M for the nine months ended September 30, 2024.

  • Gross margin improved to 9% in Q3 2024 from 5% in Q3 2023, driven by cost savings from restructuring initiatives.

  • The company is undergoing a merger with Nano Dimension Ltd., approved by shareholders and pending regulatory approval.

  • Substantial doubt exists about the company's ability to continue as a going concern beyond Q1 2025 without additional funding or completion of the merger.

Financial highlights

  • Q3 2024 revenue was $36.4M, a 15% decrease from Q3 2023; nine-month revenue was $115.9M, down 16% year-over-year.

  • Net loss for Q3 2024 was $35.4M; net loss for the nine months ended September 30, 2024 was $191.0M.

  • Gross profit for Q3 2024 was $3.2M, up from $1.9M in Q3 2023; nine-month gross loss was $31.2M.

  • Cash and cash equivalents at September 30, 2024 were $30.6M, with net cash used in operating activities of $53.4M for the nine months.

  • Adjusted EBITDA for the nine months ended September 30, 2024 was $(40.6)M, compared to $(59.9)M in the prior year period.

Outlook and guidance

  • Management expects continued net losses and negative cash flows in the near term and believes current capital resources will support operations into Q1 2025.

  • At least $50M in annualized cost savings are anticipated from the 2024 Initiative, with completion expected by year-end 2024.

  • If the merger with Nano Dimension is not completed, additional capital will be required, and there is no assurance of availability.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Desktop Metal, Inc. is the dominant provider of metal 3D printing for professionals, developing and commercializing disruptive 3D printing technologies that enable industrial manufacturers to realize a new class of highly functional parts and products. Desktop Metal invented precision engineered additive manufacturing systems specifically designed to propel the product creation process from design visualization to production reality. Desktop Metal is based in Burlington, Massachusetts.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage